The city’s Industrial Development Agency has endorsed about $1 million in tax incentives for Nardozzi Companies, earmarking it for the company’s projected $2.5 million headquarters on Forge Avenue.
The Finger Lakes Times reported the package, which comprises of a 13-year payment-in-lieu-of-taxes (PILOT) agreement, shaving off nearly $780,000 from their tax obligations.
Additionally, Nardozzi was granted sales and mortgage-tax exemptions amounting to $168,750 and $19,743 respectively.
The new site has previously been non-taxable under Geneva Industrial Park’s ownership, which was appealing for city leaders.
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